The rent prices in real estate in Baguio, in the Benguet region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per m² in Baguio has risen strongly during the last 6 months. In February, the average price per m² was ₱ 208.26. In the following month the price per m² fell to ₱ 181.3. The price for the following two months in (April, May) had a considerable rise of 186 %. The price per m² has had a considerable rise of 135 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per m² of ₱ 278.93 to ₱ 375.27 during June, and July.
When referring to the price in Baguio (cities), this has risen considerably in the last 6 months. The average price during our first sample month during February, is ₱ 48,333. During March the price went through a considerable rise reaching ₱ 72,500. During the following two months (April, May) the average price had a considerable rise of 125 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from ₱ 67,847 to ₱ 43,475, which means a 64 % fall.
The graph displaying the average rent price for bedrooms illustrates that those properties with 3 bedrooms are the most affordable ones. At a price of ₱ 38,700 they are 38 % more affordable than the average price for Baguio . The properties with the highest average price have 2 bedrooms, Their price is 39 % more expensive than the average. After that we have properties with 1 bedroom priced at ₱ 35,833.
With regard to the average price per m², those properties with 3 bedrooms are the most affordable ones at a cost of ₱ 382 / m², with an average ₱ 468.44 / m² price in Baguio. The properties with the most expensive average prices have 2 bedrooms. They are 14 % more expensive than the average followed by properties with 1 bedroom with a price at ₱ 499.28 / m².
The graph displaying the average rent prices displays the property type "House And Lot" as the most affordable one. At an cost of ₱ 38,700 it is 65 % more affordable than the average price in Baguio. "Apartment" is seen as the second most affordable property type. The most affordable property is "Condominium" followed by "Townhouse". At a price of ₱ 23,805 it is 38 % more affordable than the average price.
According to the average cost per m², the most affordable property is "House And Lot" at an average price of ₱ 193 / m² followed by "Apartment" priced at ₱ 203 / m². "Condominium" is the most affordable type of property with a ₱ 382 / m² value followed by "Townhouse" with an average price of ₱ 367 / m².